State Act
Section 157. Power of the Board of Uttarakhand State co-operative Bank to make regulations
THE UTTARAKHAND CO-OPERATIVE SOCIETIES ACT, 2003
157. The Board of Uttarakhand State co-operative Bank, may subject to the approval of Trustee, make regulations not inconsistent with the provisions of this Act, the rules and the bye-laws of Uttarakhand State co-operative bank, providing for all or any of the following matters---- (a) fixing the period of debentures and the rate of interest payable thereon; (b) calling the debentures after giving notice to debenture-holders; (c) issue of new debentures in place of debentures damaged or destroyed; (d) converting one class of debentures into another bearing a different rate of interest; (e) valuation of properties offered as security for loans; (f) investment of moneys realized from mortgagors; and (g) generally for any other matter in respect of which the Board considers that the provisions should be made for carrying out the purpose of this Chapter: Provided that the regulations framed under section 157 shall be subject to the approval of State Government.